The Income Tax Bill 2025 promises to bring sweeping changes to India’s tax system, affecting individuals, businesses, and the broader economy. With revised tax rates, deductions, exemptions, and digital taxation measures, understanding these reforms is crucial for taxpayers and investors to plan effectively. Key Takeaways Understanding the New Income Tax Framework The primary objectives of
The financial year 2025-26 brings notable updates to India’s TDS (Tax Deducted at Source) and TCS (Tax Collected at Source) regulations. Understanding these changes is essential for both individuals and businesses to ensure compliance and streamline financial planning. This article provides a detailed TDS and TCS chart for FY 2025-26, highlighting the latest rates and
For international investors putting money into Indian markets, understanding tax deducted at source (TDS) under Section 195 of the Income Tax Act is crucial. The provision directly affects how much tax non-residents pay on their investment returns from India. Both foreign individuals and institutions face complex rules when it comes to capital gains taxation, and
Prime Minister Narendra Modi, in his Independence Day address on Friday, announced that next-generation Goods and Services Tax (GST) reforms will be rolled out by Diwali, promising a reduction in taxes on everyday-use items. “I am going to give a great gift on Diwali. In the last eight years, we undertook a major GST reform
Parliament on Tuesday passed the new Income Tax Bill 2025, set to replace the six-decade-old Income Tax Act, 1961. The legislation, aimed at simplifying and modernising tax laws, is expected to come into effect from April 1, 2026. Finance Minister Nirmala Sitharaman, speaking in the Rajya Sabha, described the new law as “leaner and more
New Delhi: When the Goods and Services Tax (GST) came into effect on 1 July 2017, it replaced a maze of central and state indirect taxes with a single, streamlined system. Under the GST framework, goods and services fall into five main slabs—0%, 5%, 12%, 18%, and 28%. The 28% slab stands at the very
The Indian mutual fund market has undergone a major shift with the introduction of Section 194K under the Income Tax Act — a provision that mandates Tax Deducted at Source (TDS) on certain mutual fund earnings. For investors, understanding these rules isn’t just good practice; it’s critical to maximizing net returns and staying compliant with
